retail news in context, analysis with attitude

A new study suggests that “an enduring shift has taken place as a result of the recent economic downturn,” and that “retailers and suppliers will need to adapt to consumers' new shopping behaviors to succeed in today's evolved marketplace and during the post-recession recovery.” The report says that even as the economy recovers, “shoppers will be more deliberate and purposeful in their spending, as conspicuous consumption will give way to more conscious or practical consumerism.”

The report also says that “retailers need to make promotion and savings-related information more easily accessible across all shopper touch points. Furthermore, the explosion of online resources and new mobile phone shopping apps has made it easier than ever for consumers to find a specific item. This makes it imperative for retailers and manufacturers to optimize their search engine and paid search vehicle activities.”

The report, entitled “The New Consumer Behavior Paradigm: Permanent or Fleeting?,” is from PricewaterhouseCoopers and Retail Forward.
KC's View:
It also is projected that “the affluent segment of Generation X and the young Generation Y will lead spending in the recovery,” which suggests that the retailers and manufacturers that want to gain traction in the future will have to embrace the transparency and technologies that are so important to these generations. To resist - to believe that business as usual is somehow an option - would be a serious mistake.